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Chrysler Group LLC Statement Regarding Department of the Treasury’s Proposed Compensation Structures for Covered Employees 26-100

Date: 12.11.09
PRESS RELEASE:

Auburn Hills, Mich. , Dec 11, 2009 –
Chrysler Group worked closely and collaboratively with the Office of the Special Master to develop the 2009 compensation plan. Our submission – which was approved with no changes – was responsive to the new realities of our business environment, our industry and company financial position and in full compliance with both the letter and the spirit of the guidelines provided by the Special Master.

Chrysler Group took a realistic approach to developing our proposal considering the complexities that come from emerging from bankruptcy and setting up a new company with new owners, in this volatile industry. Our proposal was developed in a responsible manner, meeting the many criteria provided by U.S. Treasury and balancing Chrysler Group’s need to remain competitive in attracting and retaining talent. We will continue to work closely with the Office and cooperate fully with all requests.

Chrysler Group is singularly focused on establishing a company with strong brands, to restore brand promise and dealer confidence as we move forward. We do not take lightly the expectations placed on us and will continue to work diligently to shape Chrysler Group into a lean, agile organization that drives value at every turn.

We owe a huge debt of gratitude to the U.S. tax payer’s support and intend to live up to the expectations of those who made sacrifices on our behalf.

Chrysler Group will continue to strive to respect the privacy of our employees by maintaining the confidentiality of individual compensation information.

Source: Chrysler Media Services